A Disney Strategy Parents and Kids Can Love

Selling puts on stocks you don't mind owning can pad yield and help pay for trips to the Magic Kingdom.

As all parents know, children are expensive. It costs about $242,000 to raise a kid for 18 years. And if you send the kid to private school, the number is probably double, and college pushes the number toward $1 million.

The government estimates for child-care expenses covers housing, food, transportation, clothing, health care, education and some one-off expenses like toys and computers. The estimate probably does not include the...